There may be something going wrong with the bearish case today. It is quite possible that Tuesday was the daily cycle for gold and today’s action is confirming that a new daily cycle has begun. The persistent strength in gold mining stocks is indicating that early June low was a valid weekly cycle low and gold sector may have a strong run this fall.

Just a thought…

Mary
on July 18, 2014 at 6:45 pm

If there’s ‘no risk of inflation’ – (Yellen) it’ll be hard for mining stocks to stay put with metals falling – the agriculturals are all weak – meat prices likely to fall with much cheaper corn into the end of the year.